E*TRADE Financial (ETFC) quarterly income statement covering the six quarters from March 2019 to June 2020, as reported to the SEC.
An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.
| Jun'20 | Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue: | |||||||||||||||||||||
Interest income | |||||||||||||||||||||
409,000 | 443,000 | 475,000 | 521,000 | 560,000 | 555,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest income | 409,000 | 443,000 | 475,000 | 521,000 | 560,000 | 555,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest expense | |||||||||||||||||||||
21,000 | 43,000 | 60,000 | 66,000 | 70,000 | 63,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest expense | 21,000 | 43,000 | 60,000 | 66,000 | 70,000 | 63,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net interest income | |||||||||||||||||||||
388,000 | 400,000 | 415,000 | 455,000 | 490,000 | 492,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net interest income | 388,000 | 400,000 | 415,000 | 455,000 | 490,000 | 492,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gains (losses) on securities and other, net | |||||||||||||||||||||
23,000 | 20,000 | 14,000 | 16,000 | -64,000 | 11,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gains (losses) on securities and other, net | 23,000 | 20,000 | 14,000 | 16,000 | -64,000 | 11,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commissions | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commissions | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fees and service charges | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fees and service charges | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Principal transactions | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Principal transactions | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other-than-temporary impairment (OTTI) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other-than-temporary impairment (OTTI) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less: noncredit portion of OTTI recognized into (out of) other comprehensive income (loss) (before tax) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less: noncredit portion of OTTI recognized into (out of) other comprehensive income (loss) (before tax) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net impairment | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net impairment | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other revenue | |||||||||||||||||||||
11,000 | 13,000 | 13,000 | 11,000 | 12,000 | 12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other revenue | 11,000 | 13,000 | 13,000 | 11,000 | 12,000 | 12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total non-interest income | |||||||||||||||||||||
328,000 | 307,000 | 264,000 | 312,000 | 195,000 | 263,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total non-interest income | 328,000 | 307,000 | 264,000 | 312,000 | 195,000 | 263,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total net revenue | |||||||||||||||||||||
716,000 | 707,000 | 679,000 | 767,000 | 685,000 | 755,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total net revenue | 716,000 | 707,000 | 679,000 | 767,000 | 685,000 | 755,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision (benefit) for credit losses | |||||||||||||||||||||
-1,000 | 6,000 | -19,000 | -12,000 | -8,000 | -12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision (benefit) for credit losses | -1,000 | 6,000 | -19,000 | -12,000 | -8,000 | -12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-interest expense: | |||||||||||||||||||||
Compensation and benefits | |||||||||||||||||||||
176,000 | 168,000 | 171,000 | 167,000 | 168,000 | 164,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Compensation and benefits | 176,000 | 168,000 | 171,000 | 167,000 | 168,000 | 164,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Advertising and market development | |||||||||||||||||||||
64,000 | 56,000 | 53,000 | 41,000 | 48,000 | 54,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Advertising and market development | 64,000 | 56,000 | 53,000 | 41,000 | 48,000 | 54,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Clearing and servicing | |||||||||||||||||||||
47,000 | 44,000 | 35,000 | 36,000 | 32,000 | 30,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Clearing and servicing | 47,000 | 44,000 | 35,000 | 36,000 | 32,000 | 30,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Professional services | |||||||||||||||||||||
30,000 | 23,000 | 30,000 | 27,000 | 26,000 | 22,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Professional services | 30,000 | 23,000 | 30,000 | 27,000 | 26,000 | 22,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Occupancy and equipment | |||||||||||||||||||||
37,000 | 36,000 | 37,000 | 34,000 | 32,000 | 32,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Occupancy and equipment | 37,000 | 36,000 | 37,000 | 34,000 | 32,000 | 32,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Communications | |||||||||||||||||||||
35,000 | 29,000 | 29,000 | 26,000 | 29,000 | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Communications | 35,000 | 29,000 | 29,000 | 26,000 | 29,000 | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation and amortization | |||||||||||||||||||||
24,000 | 23,000 | 23,000 | 23,000 | 21,000 | 21,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 24,000 | 23,000 | 23,000 | 23,000 | 21,000 | 21,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
FDIC insurance premiums | |||||||||||||||||||||
3,000 | 4,000 | 3,000 | 3,000 | 4,000 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
FDIC insurance premiums | 3,000 | 4,000 | 3,000 | 3,000 | 4,000 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of other intangibles | |||||||||||||||||||||
15,000 | 15,000 | 15,000 | 16,000 | 15,000 | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of other intangibles | 15,000 | 15,000 | 15,000 | 16,000 | 15,000 | 15,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment of goodwill | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment of goodwill | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Restructuring and acquisition-related activities | |||||||||||||||||||||
2,000 | 16,000 | 21,000 | 2,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Restructuring and acquisition-related activities | 2,000 | 16,000 | 21,000 | 2,000 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income before other income (expense) and income tax expense (benefit) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income before other income (expense) and income tax expense (benefit) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other income (expense): | |||||||||||||||||||||
Corporate interest income | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Corporate interest income | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Corporate interest expense | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Corporate interest expense | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gains on sales of investments, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gains on sales of investments, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain (Loss) on Extinguishment of Debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain (Loss) on Extinguishment of Debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other non-interest expenses | |||||||||||||||||||||
20,000 | 31,000 | 29,000 | 24,000 | 23,000 | 18,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other non-interest expenses | 20,000 | 31,000 | 29,000 | 24,000 | 23,000 | 18,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total non-interest expense | |||||||||||||||||||||
453,000 | 445,000 | 446,000 | 399,000 | 398,000 | 375,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total non-interest expense | 453,000 | 445,000 | 446,000 | 399,000 | 398,000 | 375,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total other income (expense) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total other income (expense) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income before income tax expense | |||||||||||||||||||||
264,000 | 256,000 | 252,000 | 380,000 | 295,000 | 392,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income before income tax expense | 264,000 | 256,000 | 252,000 | 380,000 | 295,000 | 392,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax expense | |||||||||||||||||||||
68,000 | 75,000 | 80,000 | 106,000 | 76,000 | 102,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax expense | 68,000 | 75,000 | 80,000 | 106,000 | 76,000 | 102,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income | |||||||||||||||||||||
196,000 | 181,000 | 172,000 | 274,000 | 219,000 | 290,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 196,000 | 181,000 | 172,000 | 274,000 | 219,000 | 290,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Preferred stock dividends | |||||||||||||||||||||
- | 20,000 | - | 20,000 | - | 20,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock dividends | - | 20,000 | - | 20,000 | - | 20,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income available to common stockholders | |||||||||||||||||||||
196,000 | 161,000 | 172,000 | 254,000 | 219,000 | 270,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income available to common stockholders | 196,000 | 161,000 | 172,000 | 254,000 | 219,000 | 270,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Basic earnings per common share (in dollars per share) | |||||||||||||||||||||
0.89 | 0.73 | 0.78 | 1.08 | 0.90 | 1.10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Basic earnings per common share (in dollars per share) | 0.89 | 0.73 | 0.78 | 1.08 | 0.90 | 1.10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Diluted earnings per common share (in dollars per share) | |||||||||||||||||||||
0.88 | 0.72 | 0.78 | 1.08 | 0.90 | 1.09 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Diluted earnings per common share (in dollars per share) | 0.88 | 0.72 | 0.78 | 1.08 | 0.90 | 1.09 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Weighted average common shares outstanding: | |||||||||||||||||||||
Basic (in thousands) | |||||||||||||||||||||
221,400 | 222,300 | 224,500 | 235,800 | 243,000 | 246,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Basic (in thousands) | 221,400 | 222,300 | 224,500 | 235,800 | 243,000 | 246,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Diluted (in thousands) | |||||||||||||||||||||
221,700 | 222,700 | 224,900 | 236,300 | 243,500 | 246,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Diluted (in thousands) | 221,700 | 222,700 | 224,900 | 236,300 | 243,500 | 246,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commissions [Member] | |||||||||||||||||||||
Revenue | |||||||||||||||||||||
89,000 | 71,000 | 56,000 | 122,000 | 121,000 | 122,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Revenue | 89,000 | 71,000 | 56,000 | 122,000 | 121,000 | 122,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fees and service charges [Member] | |||||||||||||||||||||
Revenue | |||||||||||||||||||||
205,000 | 203,000 | 181,000 | 163,000 | 126,000 | 118,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Revenue | 205,000 | 203,000 | 181,000 | 163,000 | 126,000 | 118,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||